Accounting Archives | CloudCFO PH

Accounting

April 4, 2024

Top 5 Accounting Tools PH Accountants Should Know For 2024

In the fast-paced world of business, keeping pace with the latest accounting tools is essential for effective financial management. For Philippine business owners and accountants, embracing modern software solutions can streamline operations, boost productivity, and ensure adherence to regulatory requirements. 

3 min mins read

STRATEGIC INSIGHTS: An Exploration of the Ease of Paying Taxes Law and Its Impact on Businesses

In a recent milestone on Philippine taxation, President Ferdinand Marcos Jr. signed the new Ease of Paying Taxes Law by President Ferdinand Marcos Jr. This landmark legislation marks a significant paradigm shift, bringing about a reclassification of taxpayers based on gross sales. Micro, Small, Medium, and Large enterprises now navigate a more nuanced framework tailored to their scale. 

3 min mins read

Unlocking Efficiency and Growth: The Case for Outsourcing Payroll Management with CloudCFO

Managing payroll can be a daunting task for small and medium enterprises (SMEs) and startups in the Philippines, plagued by a myriad of challenges that demand time, attention, and precision. One of the most significant hurdles faced by these businesses is manual payroll processing. While initially seeming cost-effective, relying on spreadsheets or basic tools becomes increasingly cumbersome and error-prone as the business expands. 

3 min mins read

Thinking of Expanding Globally? Here’s Five Questions PH Startups Need To Ask Before Going International

In this article, we aim to be your trusted companion on the journey towards successful international expansion. Whether you’re contemplating entering the Philippine market or expanding your operations to other global destinations, we understand the pivotal questions and uncertainties that accompany such endeavors. 

April 2, 2024

3 min mins read

Tax Changes You Should Take Note Of For 2024

Given the changes in several tax concerns, taxpayers may find it tedious and challenging to go about their reports for the BIR. CloudCFO, with its team of tax experts, can assist you in all things financial and tax reporting. 

3 min mins read

STRATEGIC INSIGHTS: Navigating the Impact of the Revised DOLE IRR on Service Charge Law

Navigating the intricate landscape of labor regulations in the Philippines demands a keen understanding of the recent revisions to the Implementing Rules and Regulations (IRR) on the Service Charge Law by the Department of Labor and Employment (DOLE). As businesses and financial leaders, it is imperative to grasp the strategic implications of these changes.

March 12, 2024

3 min mins read

Navigating Tax Changes: Understanding MCIT Rates for 2024

The Bureau of Internal Revenue (BIR) recently released Revenue Memorandum Circular 36-2024 on March 11, shedding light on the computation of Minimum Corporate Income Tax (MCIT) for the taxable year 2023.

February 8, 2024

DOLE issues revised IRR on Service Charge Law 

The Department of Labor and Employment (DOLE) has issued the revised implementing rules and regulations (IRR) of the Republic Act (RA) 11360 or the Service Charge Law, which now covers a broader range of establishments, including hotels, restaurants, and entities operating primarily as private subsidiaries of the government. The term ‘service charge’ is clearly defined […]

January 3, 2024

Understanding Accounts Payable

It’s important to understand accounts payable because it’s not just a financial log; it’s a strategic tool. As a liability, accounts payable is a credit entry, representing the money your business owes to suppliers. When the balance is settled, a debit entry decreases the credit balance.